New Bitcoin Mining Facility in Virginia Beach

Virginia Beach, Virginia isn’t exactly known as a hotbed of bitcoin mining activity, but that appears to be changing, and soon. A local company has sunk 65 million USD into a giant facility, as the resort town attempts to become a hub for data centers.

65 Million USD Mining Facility is Nearly Completed

It almost wasn’t to be. Local firm Bcause, LLC was actually looking to plunk down their 65 million dollars elsewhere. And then its hometown, Virginia Beach, Virginia cut business property taxes for data centers at the end of last year, according to The Virginian-Pilot online newspaper. The city’s Director of Economic Development, Warren Harris, told the paper, “We’re poised to be a hub for data centers. To reduce that tax has put us in a very, very competitive position.”